Wednesday, January 16, 2013

Stock market manages to close on the up, savours Rs. 190 m net foreign inflow

The Colombo stock market yesterday fluctuated within a thin range to end marginally stronger over last Friday’s close, whilst it savoured Rs. 190 million worth net foreign inflow.

 The benchmark All Share Price Index (ASPI) ended gaining a trivial 0.07% (3.75 points) for the day, whilst the S&PSL20 index closed flat at 3,134.32 points. Foreigners ended the day as net buyers with foreign purchases worth of Rs. 494.69 million against sales worth Rs. 304.12 million, resulting in a net inflow of Rs. 190.57 million.

Turnover was Rs. 727.63 million primarily as a result of the high value off the floor trades in Commercial Bank of Ceylon (COMB) and John Keells Holdings (JKH), according to SC Securities.

 The other major turnover generators for the day were Sampath Bank (SAMP), Central Finance (CFIN), and Dialog Axiata (DIAL). The top five turnover contributors accounted for circa 77% of the day’s total market turnover.

 SC Securities said COMB saw four crossings take place at a uniform price of Rs. 105 generating a turnover of Rs. 217.22 million. The four off the market block trades consisted of 2.07 million shares in total. A further 394,000 shares of COMB traded though the market, carrying the total turnover generated by the counter to Rs. 258.5 million. The share traded at a high of Rs. 105.90 and a low of Rs.104.90, before ending the day unchanged at Rs. 105.

 JKH was associated with two crossings comprising of 450,000 shares. The negotiated trades took place at a uniform price of Rs. 225 each. The counter witnessed a further 364,000 shares transact through the market at a high of Rs. 224.50 each and a low of Rs. 223. JKH contributed a turnover of Rs. 182.64 million and closed trading at Rs. 224.30, up 0.58% or Rs. 1.30 over last Friday’s close.

 SC Securities also said investor interest was evident in SAMP as the banking counter saw a volume of 307,000 shares change hands at a high of Rs. 205.50 and a low of Rs. 202. SAMP gained 0.84% (Rs. 1.70) over Friday’s close.

 Investor interest was also seen in CFIN and DIAL. CFIN closed the day at Rs. 180, rising by 1.93% (Rs. 3.40), and DIAL closed flat at Rs. 8.30, though witnessing 3.2 million of its shares changing hands.

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